// Trends
Best Cryptocurrencies to Invest in 2023
// Trends
Supply and demand drive any market; hence, the assets’ price and renown. Bitcoin price grows slower compared to cheaper cryptocurrencies; still, investing in them is riskier due to several reasons. This article will tell which cryptocurrency is the best investment in 2023 and will fit mid and long-term deals.
Investing in crypto requires a conscious approach without dreams of becoming rich in a few days or weeks. Cryptocurrency is the future, yet not many accept it now. The main task is to find a crypto asset to invest in and hold for five to ten years.
Cryptocurrency is a high-risk asset for any investor, but it allows them to earn a fortune shortly. The coins must meet the requirements of a specific person and provide an understanding of their possible result.
Digital currency must be straightforward, intuitive, and easy to buy, sell, withdraw, or exchange. Each token must have a project behind it, a team, and a developer; thus, it will have prospects and development in the future.
Currently, the market is experiencing a deep correction, and many assets lost 70 to 95% of their value. Therefore, it is an excellent investment time since the market can’t dump or grow forever. It is possible that in 2023 the prices will go up, and those who invested in 2022 will gain income. The experts are more than sure that Bitcoin will not remain below $20 000 for an extended period.
Altcoins, like Ethereum, are a significant market element. The analysts claim that altcoins will show their power soon and grow by dozens of folds. DeFi and other new developments might become the top interest industries; hence they will have positive dynamics. ICHI platform manager Bryan Gross is sure about it. For the first time in history, there was an investment of over 200 billion dollars in DeFi. More and more funds go to projects, and the interest of major companies is only growing.
In 2021, numerous governments and countries acclaimed that they find cryptocurrency appealing. However, China started banning digital currency, and the USA fought with some crypto market elements. The experts are sure that stablecoins like Tether (USDT) are the key industry for regulators.
Bitcoin is the prime cryptocurrency; it’s digital gold, a leading asset by capitalization and trading volume, yet not the only option for investment in 2023. Numerous promising projects might offer profit in the future. Below you will find a list of coins according to investment risk. Less risky assets require investing more money, while high-risk investments must be a minimum of your balance.
Diversification is significant for investment portfolios. It will help to protect and multiply your investment in the long run. For example, 60% of funds must be low-risk investments, 25-30% must be medium, and the remaining money — high-risk assets.
It’s one of the best cryptocurrencies for investment regardless of the period. Bitcoin is the crypto market leader and a prominent landmark. In 2021, it proved to be an asset. Bitcoin reached 63 thousand dollars and got a new maximum of 68 thousand dollars in half a year.
BTC is quite outdated in technology since there are more advanced projects; therefore, traders and investors employ cryptocurrency as an index because it is the most secure option. A limited offering drives the demand, and with time, the need for 1 BTC will be greater than now, and the price will reach a few hundred thousand dollars per coin. Kraken exchange CEO Jessie Powell claims that people must consider BTC as a long-term investor for up to five or more years.
Ethereum is the second low-risk cryptocurrency. It’s a promising altcoin focusing on innovations. Ethereum is not just a cryptocurrency but a complete platform for developers. It allows the creation of assets employing blockchain and smart contracts. The current price is about $1000, yet ETH's growth dynamics are higher than BTC's. Ethereum’s blockchain processes a transaction within 15 seconds, while it takes 15 minutes for BTC.
Ethereum is a significant element in many DApps; hence it is secure for investment. The Ethereum 2.0 update is one of the reasons for a bullish run in 2023.
The following are some of the project’s prospects:
Binance develops an ecosystem where any user can find numerous helpful things, from passive income to DApps, etc.
However, Binance cooperates with regulators and key countries, while the representatives work with local companies and regulators. A few years ago, the exchange was hacked and data leaked, yet all investors received compensation for their lost funds.
This category will include medium-risk cryptocurrencies that can be a part of the portfolio. These projects are fundamental, innovative, and serve particular purposes in the crypto and other industries.
This project actively develops, makes a network parachain, and functions in a Web 3.0 network. Polkadot enthusiasts call it ETH killer; hence it must be a part of the portfolio. The prime issue now is functional compatibility. Polkadot targets to solve the blockchain compatibility problems. It is a multi-system that connects other blockchains. Gavin Wood manages the project, and the creators aim to develop a single decentralized network. If it achieves globalization, it will allow the creation of a new internet version where the information will be protected from regulators and the central government.
The functionality of Polkadot differs significantly from classic cryptocurrencies. The project has a minimum of competitors in the chosen niche, so DOT is well suited for investment. Increased load does not cause network slowdowns. Processing operations due to the simultaneous work on different blockchains is fast, with the redistribution of capacity. Another plus is that DOT does not need hard forks; there are smooth updates for individual blocks, giving the ecosystem practicality. Polkadot-based blockchains allow for any customization to suit the needs of developers, and parachains efficiently work with each other, regardless of their structure, forming a unified system.
Cardano is one of the world’s biggest cryptocurrencies and one of the best assets for investors who seek a vital and young asset with considerable potential in 2023. ADA is a technological achievement in a blockchain environment.
The project employs Proof-of-Stake, which solves the following issues:
Cardano is a decentralized platform created in 2017. In 2022 it introduced smart contracts. Three significant companies do the engineering, cryptography, and blockchain. It is an excellent choice for both short-term and long-term investments.
AVAX is a virtual asset that builds a unified ecosystem where users worldwide can transact funds with crypto means. AVAX is Avalanche’s native token that serves for fees payments, protecting the network, and other tasks.
Coin holders can stake it to receive passive income. Furthermore, staking is an excellent solution to substitute energy-hungry mining. Avalanche might compete with Ethereum in launching smart contracts.
Solidity is the programming language for Avalanche, Ethereum, and Polygon too. Hence, the developers can transfer their platform, knowledge, and skills from one project to enhance theirs.
In 2022, Avalanche didn’t manage to be more productive than ATOM or Solana. Yet, the team is on the right path, the developers receive many grants, and it has a marketing company and partnership with influential groups. In 2023, the project might show good dynamics and overcome ETH.
Jae Kwon and Ethan Buchman developed the Cosmos blockchain employing the Tendermint consensus protocol. The project targets to coordinate the work between different blockchains in decentralized finance.
Cosmos allows interacting with blockchains beyond the standard network connection. It has adjustment elements that will enable to implement own settings, and the consensus mechanism helps to do it.
All blockchains on Tendermint are highly secure and scalable. The TPS (transaction per second) reaches 10000 per 1 second, even if 33% of nodes are harmed. Any network on PoS and PoW algorithms can connect to Cosmos.
Flow is based on cryptocurrency games and NFT marketplaces. This approach allows scaling without segmenting; hence, all operations are fast and require minimum fees. Flow increased its bandwidth significantly by distributing the validation to four nodes.
As a result:
DYDX is the DEX’s exchange native token. There is significant demand for the project; the exchange actively develops, and new instruments and functions appear. As cryptocurrencies grow, many countries start controlling, banning, and regulating financial operations. As a result, decentralized platforms that allow trading and investing without regulation are promising. This platform enables independently doing any process with crypto.
The investors can stake tokens for passive income up to 25% yearly. The exchange offers derived and leverage trading. Few decentralized exchanges offer leverage trading. Moreover, DEX is much easier than 1-2 years before, while the security is several times better than centralized platforms. The main risk for DYDX is competing with other centralized and decentralized exchanges.
1INCH is another project that contributes to DeFi development. Furthermore, 1inch is a DEX aggregator, thanks to which everyone is combined into a single platform. Comparing decentralized exchanges, aggregators with value comparison functionality and the ability to choose the best exchange method without manual parameter filtering have excellent growth potential in their field.
Monero is a coin with increased anonymity, which investors will chase in the future, especially with the active regulation of the cryptocurrency environment. According to the BeInCrypto survey, analysts and experts see the asset's growth potential and the current price values as a phase of large-capital accumulation. In 2023, demand for anonymous coins will increase, driven by taxes and other restrictions related to cryptocurrencies.
TWT is the native token of one of the best cryptocurrency wallets for digital assets. The project comes from Ukraine, yet users employ it globally. The wallet substantially protects against hacker attacks, and the token practically cannot be affected by market correction and BCT price drops.
As experts claim, Gnox methods can change the DeFi world in the future.
Throughout 2021, the FTM asset showed rapid growth, and no one expected such a development from the project. The network is gaining popularity among the cryptocurrency community due to the use of almost zero fees for digital transactions and the maximum processing speed.
Fantom is a Tier 1 blockchain needed to advance the DeFi sector. The project runs on the Lachesis consensus, which helps solve decentralized finance scalability problems and uses PoS.
The network built with Fantom is autonomous, so developers have no problem moving the Ethereum-based DApp to the Fantom Opera network. The unique parameters, developments, and technologies caused rapid growth in 2021, and the FTM coin will grow in 2023. This is a fundamental and necessary development, so cryptocurrency is better to buy for a small percentage of your investment portfolio.
VET is a rapidly developing project, a publicly available blockchain, with applications in various industries: logistics, fashion, automotive, etc. Vechain connects to IoT solutions, and the VeChain Foundation manages the network.
This is one of the best projects for 2021-2022. Decentraland is a metaverse and ecosystem that can unite content creators and viewers. Mana token shows strong growth in 2022 due to a market correction; the asset became attractive for investment. Metaverses develop the project advances and will keep the positive dynamics in the upcoming five years. Decentraland helps any individual to create content, own it, and monetize it via NFT.
In 2023, Mana's price might grow since Decentraland is one of the most popular metaverses on the market. The assets are appealing due to their low volatility, ongoing developer team work, and promotion in the digital world. Furthermore, significant capitals show interest in the project.
It is a blockchain platform for smart contracts with minimal fees, excellent scalability, and appealing design. Earlier, the platform offered DeFi services and provided liquidity for CEX and DEX.
DeFi clients access the various blockchain and best trading solutions within a single ecosystem. The network’s solution finds efficient earning models employing automatization processes.
A blockchain platform designed to work with sports fans. With the help of the project, teams of different sports can sell certain privileges to fans in the form of voting rights for the design of uniforms or an early opportunity to buy tickets to matches. All of this is implemented as fan tokens on the blockchain.
Ravencoin targets to make asset transfer a straightforward process. The platform allows tokenizing any item. RVN is the native token; the platform is Bitcoin’s fork and is considered a new asset since it entered the cryptocurrency market in 2018.
Holochain is a post-blockchain technology representing a decentralized platform for developing a new application. It is a peer-to-peer project that is easy to scale on the blockchain. HOT is one of the best coins under $1 for 2023
We can compare development to how a user has access to any application on the Internet simultaneously without API binding due to full compatibility. Any program doesn't have unique data; the end user can create their design and customization. This gives limitless possibilities for intelligent information analysis and consensus building.
A Singapore development that helps solve the scalability problem. It is an underestimated project at the TOP in 2018, after which the ZIL coin and Zilliqa project became of little interest; the reason for that was the developers' fault and violation of promised deadlines.
The main plus of the project is the successful use of segmentation for scaling. The development was one of the first to solve such a problem; other projects, Ethereum among them, did not dare to take such a step and Zilliqa showed that sharding can work.
It is not a fork like many altcoins in the cryptocurrency market. Zilliqa is a full-fledged team working on building a helpful tool.
Cryptocurrencies are a dynamic sector, but there are some factors that you should always focus on when building a portfolio with specific coins. Market capitalization is an essential element that can indicate the liquidity of an asset. The higher the value, the safer it is to buy such a coin. High capitalization indicates acceptance by the masses and significant funds, which can speak to mass demand.
The second element is the rate of acceptance. Assets that participate in actual transactions evoke trust, and the likelihood of profit from coin projects is many times higher. Many cryptocurrencies are already used in business, insurance, credit, and investments. The main attraction of blockchain developments is the security and anonymity people can receive. Investing in assets working in this direction will be a good investment for 2023.
There are more than 10,000 cryptocurrencies on the market, and the list is updated daily with new shitcoins, among which there are fundamental projects. Newcomers in this sphere are best to buy low- and medium-risk coins, but practice shows that big profits are just in tokens with high risk.
Cryptocurrencies are volatile and unregulated, and no one can protect users from hackers and fraudsters; hence, you need to keep an eye on everything yourself, protecting your investments, using hardware wallets for storage, and other tools.
Before registering on exchanges, it is better to understand market movements and trends, allowing you to make profits with minimal losses. Money should never be invested in 1 coin, even if it is Bitcoin. Be sure to choose several options for diversification with a preliminary and in-depth study of the project. It is better to keep most of your assets in separate wallets; this is important in case of cyber-attacks and other hacking activities.
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